Guangzhou: Shenzhen-listed Zhuhai Port is planning to integrate its wind power assets to facilitate its business development in the clean energy sector, the company said in its 2014 annual report.
Zhuhai Port reported a net profit of RMB17.14m ($2.76m) for the year of 2014, sharply down by 81.35% year-on-year. The company attributed the drop in profit to the depression in the bulk shipping market.
As the bulk shipping market is still in the doldrums, Zhuhai Port has been seeking profit through diversifying its business into the clean energy sector.
Zhuhai Port entered the wind power sector through acquiring 51% equity in Zhejiang Kexiao Windpower Investment and Development Co and 100% equity in Dongdian Maolin Wind Energy Development in 2014.
Zhuhai Port said the company will accelerate its business diversification through more mergers and acquisitions this year and it plans to list its wind power business in the near future.